lolo(000848)2021-04-26 16:00Financial Performance - The company reported a significant increase in revenue, achieving a total revenue of 1.2 billion RMB, representing a year-on-year growth of 15%[15]. - The net profit attributable to shareholders was 300 million RMB, reflecting a growth of 20% compared to the previous year[15]. - The company's operating revenue for 2020 was ¥1,860,643,698.75, a decrease of 17.50% compared to 2019[23]. - The net profit attributable to shareholders for 2020 was ¥432,188,575.47, down 7.03% from the previous year[23]. - The net cash flow from operating activities was ¥378,550,364.75, representing a decline of 43.95% year-on-year[23]. - The basic earnings per share for 2020 was ¥0.40, a decrease of 6.98% compared to 2019[23]. - The total profit amounted to 584.97 million yuan, down 5.38% year-on-year, while the net profit attributable to shareholders was 432.19 million yuan, a decline of 7.03%[36]. - The company reported a significant reduction in operating costs, with current period costs at CNY 927,990,115.38 compared to CNY 1,068,706,640.63 in the previous period, reflecting a decrease of approximately 13.1%[92]. Market Expansion and Strategy - The company plans to expand its market presence by entering three new provinces in the next fiscal year[15]. - Future guidance indicates an expected revenue growth of 10-15% for the upcoming fiscal year[15]. - The company plans to continue expanding its market share in the competitive plant protein beverage industry[31]. - The company plans to enhance its marketing team and optimize its distribution network to increase market penetration and reduce blank markets[78]. - The company aims to achieve a revenue target of 3.2 billion CNY and a total profit of 635 million CNY for 2021[78]. Research and Development - Research and development expenses increased by 10%, totaling 50 million RMB, focusing on new product innovations[15]. - The company is focused on innovation and has established provincial-level technology centers to enhance its research and development capabilities[33]. - R&D expenditure totaled 10.98 million yuan, accounting for 0.59% of the company's operating revenue, with plans to increase investment in new products and packaging[62]. - The company will increase R&D investment to create new growth points, focusing on health-oriented beverage products[77]. Legal and Compliance - The company has not faced any bankruptcy reorganization or major litigation matters during the reporting period[100][101]. - The company is currently involved in a trademark licensing contract dispute with Shantou High-tech Zone Lulun Southern Co., Ltd., which has been accepted by the Jinping District People's Court of Shantou City[111]. - The company has received a notification from the Chengde Intermediate People's Court regarding the acceptance of a lawsuit related to damage liability disputes, which is currently pending[109]. - The company has been involved in multiple legal proceedings, including a case regarding patent infringement that has been ongoing since 2017[105]. Corporate Governance - The board confirmed that all directors attended the meeting to review the annual report, ensuring transparency and accountability[5]. - The company has maintained its auditor, Tianzhi International Accounting Firm, for 10 consecutive years, with an audit fee of CNY 500,000 for the current year[95]. - The company has successfully completed the re-election of its board and management team, ensuring continuity in leadership[145]. - The company has a stable management team with no changes in key positions reported[183]. Shareholder Information - The company proposed a profit distribution plan to distribute a cash dividend of 2.6 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[7]. - The total cash dividend distributed to shareholders is approximately CNY 273,108,941.30, which accounts for 100% of the distributable profit[90]. - The largest shareholder, Wanxiang San Nong Group Co., Ltd., holds 437,931,866 shares, accounting for 61.33% of the total shares[171]. - The number of shareholders holding more than 5% of the shares increased to 71,152 by the end of the reporting period[162]. Social Responsibility and Environmental Compliance - The company has engaged in social responsibility initiatives, including annual fundraising activities that have raised a total of 771,637.00 yuan for various charitable causes since 2009[134]. - The company has invested in a wastewater treatment facility with a capacity of 1,000 m³/d, ensuring compliance with environmental standards[142]. - The company adheres to environmental monitoring regulations, with quarterly noise monitoring and automatic wastewater COD monitoring in place[144]. - The company emphasizes product quality as its lifeline, ensuring no counterfeit products are produced[136].